Business Activities

The Office of the Governor is responsible for providing support to the Bank's management. It performs:

secretarial services to the Council of the Croatian National Bank,

professional, administrative, secretarial and organisational support to the work of the Governor, Deputy Governor and Vicegovernors, and

protocol-related tasks.

The Internal Audit Office provides support to the achievement of the Bank's objectives by introducing a systematic approach to the assessment and improvement of the Bank's efficiency in risk management:

it conducts independent testing and assessment of the overall business activity of the Bank and uses its analyses, advice and opinions to contribute to their improvement,

assesses the adequacy and efficiency of the existing internal control systems incorporated in the Bank's business processes,

examines the reliability and accuracy of financial and business information and measures, classifies and presents such information, and

examines the compliance of the Bank's operations with policies, plans, procedures, agreements, decisions, laws and regulations.

The Security Office is responsible for managing the Bank's security system and defining the methods and techniques for the improvement of the Bank's security system:

it coordinates and represents the Bank in the preparation of the Threat Assessment, Protection Plan and Bank security study,

manages the Bank's physical and technical security, performs operational tasks pertaining to the security of the Bank's employees, assets and systems and manages fire protection in the Bank's facilities,

manages occupational protection,

manages the security of the Bank's information system and controls and supervises information system security,

maintains a database of security issues, incidents and risks,

assesses security risks and manages the activities for their mitigation or elimination, and

evaluates and improves physical security and protection systems and access control systems and manages safety in crisis situations.

The Legal Office provides legal assistance in legal issues to the Bank's management and other organisational units:

it monitors, studies and proposes laws and other regulations relating to the activity of the CNB and other banks,

provides legal opinion and advice to other organisational units,

controls the consistent application of legal and other regulations,

drafts and certifies contracts and other documents related to the Bank's business operations,

keeps record of all concluded agreements,

represents the Bank in proceedings before courts and other government bodies, and

takes and initiates appropriate legal actions at the request of individual organisational units of the Bank.

The Consumer Protection Monitoring Office is responsible for protecting the rights of consumers using the financial and banking services of credit institutions or credit unions within its competence under law:

provides opinion or information related to the application of regulations,

promotes and encourages the development of good practice of financial service providers towards their users,

provides financial education to consumers, and

develops activities aimed at increasing the transparency in the work of credit institutions and credit unions.

The Communications Area informs the public about the work of the Croatian National Bank and prepares and co-ordinates the Bank's communications activities.

The Public Relations Department is responsible for:

it organises work with the media (conferences, meetings, seminars, workshops, public appearances of employees and officials),

answers queries regarding the Bank's activities raised by the media, the public, companies and institutions,

compiles texts for the Bank's website and the Bank's internal bulletin, which it edits as well,

organises educational visits of pupils, students and the general public to the CNB, and

performs public opinion polling.

The Publishing Department is responsible for:

defining and implementing linguistic and graphic standards,

language editing and proofreading, translation, design, graphic layout preparation and desktop publishing for the Bank's publications and other materials required by the Bank,

language editing and translating of legislative acts and other regulations and translating, language editing and proofreading of ECB publications,

photographing, filming and video editing,

the design and production of special promotional multimedia content,

consecutive translation and recruitment language testing,

the development, creative design and drafting of content presentation strategies and the defining of functionalities,

editing the Bank's intranet page and participating in the editing of the Bank's website; programming, designing, implementing and administering the Bank's intranet page and website,

content designing and managing the Bank's content on social networks, and

cooperation with the ECB.

The Research Area monitors and analyses domestic and international economic and financial trends in order to establish an analytical foundation for the implementation of the CNB's monetary and macroprudential policy and provide timely, high-quality information to the public:

it compiles various studies and analyses for monthly, semi-annual and annual reports, information and publications,

compiles surveys and working papers,

develops and uses various economic and econometric models for simulations and macroeconomic projections,

participates in the preparation of materials for the management's public presentations,

cooperates with the European Central Bank, the European Commission and other EU institutions as well as with the IMF, and

participates in the drafting of primary and subordinate legislation.

The Statistics Area gathers and processes statistical and administrative data from reporting units and other institutions and uses this data to compile and publish information on particular statistical indicators as well as entire statistical reports from the area of official statistics in the Republic of Croatia in the part falling under the competence of the Croatian National Bank, in line with the applicable international statistical standards and EU regulations:

it gathers data from entities subject to statistical reporting to the CNB,

processes and prepares statistical reports in the area of monetary and financial statistics, general economic statistics and external statistics for the purposes of domestic and foreign users,

develops statistical methodology (with the purpose of compliance with international standards and other legal documents), drafts regulations and develops the statistical system as a whole, and

cooperates with the ECSB and the Eurostat.

The Central Banking Operations Area implements the monetary policy and manages the international reserves and foreign exchange liquidity:

it is responsible for the purchase and sale of securities on the domestic market (with or without a repo obligation),

issues the Bank's securities,

grants loans to banks, collects deposits from banks, issues reserve money on the basis of purchase and sale of foreign currency on the domestic foreign exchange market,

invests international reserves and manages foreign currency liquidity, and

monitors the exposure to interest rate, currency, credit and other risks related to investments and measures investment effects.

The Prudential Regulation and Supervision Area is responsible for the supervision over the business of credit institutions and credit unions. Furthermore, it proposes, drafts and issues opinions on the implementation of prudential regulations, drafts the methodology for the exercise of supervision and performs the licensing of credit institutions and credit unions:

it monitors regulations and the entire acquis communautaire, implements regulations, participates in working groups, provides opinions and recommendations,

implements the Credit Institutions Act and related regulations,

gathers reports for the supervision over the business of credit institutions and credit unions,

performs analyses on the business of credit institutions and credit unions at the level of the banking system,

performs the supervision of models used by credit institutions to measure and manage risks,

performs the supervision of information systems of credit institutions and credit unions,

continuously monitors the business of credit institutions and credit unions,

performs licensing, and

imposes and monitors the implementation of supervisory measures of credit institutions and credit unions.

The Payment Operations Area performs tasks necessary for the successful and safe functioning of payment operations in the country, thus enabling the safe and efficient use of money as means of payment and the performance of non-cash payment transactions, i.e. the transfer of funds from the payer to the payee:

it regulates payment and foreign exchange operations,

it performs the tasks of licensing and supervision of payment institutions, electronic money institutions, payment systems and authorised exchange offices,

performs the tasks associated with the issuing, withdrawal, supply and management of total banknote and coin reserves, and

performs the tasks related to the prevention of money laundering and financing of terrorism for electronic money institutions and within the Committee of the Croatian National Bank for the Prevention of Money Laundering and Terrorist Financing.

The International Relations and Resolvability Assessment Area is responsible for European cooperation, cooperation with international financial institutions and assessment of resolvability of credit institutions:

it prepares materials and opinions - independently and in cooperation with the competent expert services of the Bank - for the meetings of bodies in the European Central Bank, the European Systemic Risk Board and the EU Council attended by the members of the Bank's management,

coordinates the preparation of proposals of opinions on the topics discussed in the EU Council and the European Commission,

prepares materials and opinions on the policies of international financial institutions (primarily the International Monetary Fund and the Bank for International Settlements) for the purposes of the participation of the Republic of Croatia and/or the Croatian National Bank in the work of the aforementioned institutions and compiles the materials on the relations of the Republic of Croatia and the Croatian National Bank with the aforementioned institutions, and

assesses the resolvability of credit institutions in financial difficulties in line with the provisions of the Act on the Resolution of Credit Institutions and Investment Firms.

The Planning, Controlling and Accounting Area implements a management-oriented controlling concept and compiles the CNB's financial statements in line with legal regulations in order to provide support to business decision-making and management and to other end users:

it coordinates and participates in the formation of business objectives with advice and recommendations,

conducts planning and compiles business plans; monitors their achievement and compiles reports on the implementation of business plans; conducts planning and monitors the implementation of project plans,

compiles and analyses information pertaining to costs with a view to achieve efficient cost management,

provides timely analyses, information, advice and guidelines for the implementation of plans and achievement of objectives,

processes data based on reliable and accurate accounting documents on transactions and keeps business records (journal, general ledger, subsidiary ledgers),

prepares and compiles annual financial statements subject to audit (statement of financial position, statement of comprehensive income, statement of cash flows, statement of changes in equity, notes to the financial statements) in accordance with the defined accounting standards; compiles financial statements for statistical, tax and other purposes; compiles internal information based on analyses of accounting data, and

cooperates with ESCB bodies.

The Information Technology Area is responsible for application system development and operational tasks:

it develops, designs, implements and maintains application software,

monitors and applies system analysis and programming methods,

monitors the development of software and selects, introduces and maintains software,

defines the methodology and the exchange of data between the Bank and other participants in the banking and financial system,

implements and administers operational systems and databases,

develops and maintains a communication network for data transfer,

monitors, evaluates and applies measures for the improvement of information system safety,

maintains the installed equipment, and

organises, manages and develops the professional library and archives of the Bank.

The Support Services Area is responsible for human resources management, technical services, general services, procurement and publishing.

The Human Resources Department is responsible for:

developing business processes and organisational design,

planning and implementing the recruitment process, coordinating employee education and managing career development and employee performance,

drafting internal bylaws related to employment, and

performing other tasks related to employment.

The Technical Services Department is responsible for:

managing technical projects; coordinating, monitoring and supervising the investment construction of buildings and/or restoration of the Bank's business premises,

maintaining business premises and infrastructure (facilities, installations, devices and equipment),

implementing measures aimed at the protection of environment and nature, managing waste and performing cleaning tasks, and

procuring necessary goods and services.

The General Services Area is responsible for:

providing the services of receiving, filing, delivering and dispatching documents and mail, coordinating the work of the telephone exchange and tasks related to the transport of Bank's employees,

providing restaurant services for employees and the Bank's protocol,

organising the use of spatial resources and the maintenance of the Bank's interior, and

procuring necessary goods and services.

The Procurement Department is responsible for:

coordinating procurement tasks in the Bank,

participating in the entire procurement process and drawing up agreements regarding procurement,

providing expert opinions and recommendations,

representing the Bank before competent bodies in procurement processes, and